Drew Industries (DW) Tops Q2 EPS by 22c

Drew Industries (NYSE: DW) reported Q2 EPS of $1.51, $0.22 better than the analyst estimate of $1.29. Revenue for the quarter came in at $441 million versus the consensus estimate of $413.09 million.

"Our net sales in the 2016 second quarter increased at a year-over-year rate of 22 percent and by more than $78 million compared to the second quarter of 2015," said Jason Lippert, Drew's Chief Executive Officer. "Strong industry volumes attributed nine percent of the increase, with the remainder resulting from continued growth of our aftermarket business, organic growth through increased market share and new innovative products, and sales from acquired businesses."

"RV industry volume is out-pacing the RVIA's low single-digit unit growth projections for 2016 given at the end of last year, as 2016 second quarter wholesale travel trailers are up nearly 14 percent and fifth-wheels are up over four percent," continued Jason Lippert. "Travel trailer sales momentum continued this year, which we attribute to a new generation of enthusiasts embracing the RV lifestyle. We are also pleased to see fifth-wheel wholesale units up approximately 900 units and 1,000 units over the second quarter and year to date 2015, respectively. These overall increases for North America have been achieved despite retail sales of towable RVs in Canada being down 19 percent during the second quarter."

For earnings history and earnings-related data on Drew Industries (DW) click here.

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